|Bernie’s Diner Opens with Lonnie BellThe Northern Hotel is open! Lonnie Bell and Ed McIntosh helped open Bernie’s Diner Sunday morning with a live broadcast. The diner opened at 6am for the very first time. Jessica Oe and her staff at Bernie’s had a great first day from what I could tell. What a HUGE cup of coffee they served!
Coca-Cola Study: Online Buzz Has NO Effect on Sales
A Coca-Cola Co. study finds online buzz has no measurable impact on short-term sales, said a company executive in a presentation at the Advertising Research Foundation’s Re:think 2013 conference in New York today.
It’s a stunning admission for a company who’s flagship brand has 61.5 million fans, more than any other brand on Facebook. But Eric Schmidt, senior manager-marketing strategy and insights at Coca-Cola, isn’t giving up on buzz just yet. And he cautioned against reading too much into the research, noting that it covers only buzz, not sharing, video views or other aspects of social media.
But when Coca-Cola put buzz sentiment data into the same analytical framework it uses to evaluate other digital media, Mr. Schmidt said, “We didn’t see any statistically significant relationship between our buzz and our short-term sales.”
Coke research was far more favorable for digital display advertising, which it found on average to be 90% as effective as TV at generating sales on a per-impression basis, Mr. Schmidt said. Radio was below TV but above search. Search itself was 50% as effective as TV – about the same as out-of-home.
“Digital ROI has to be a financial measure that allows us a consistent measurement of business performance over time,” he said, and also lets marketers make informed tradeoffs between media.
Thoughts From a Nearly 55 Year Old
by Mike Watkins
Uh-Oh! I have only 120 shopping days until irrelevancy! So far this year, I bought a new car for myself and a used car for my son. Still remaining on the list: SUV for my wife, a few suits for me (luckily someone has a buy one get 3 or 4 free deal), and new TVs for the den and our bedroom. Why the shopping spree you ask? In just 120 days I turn 55, and immediately become irrelevant to many advertisers much more intelligent than me. Oh sure, they love me now that I’m within that magical 25 – 54 age demographic. But now that I’m about to turn 55, they could care less about me. 120 days to use the internet (I’m going to miss it), and search for those advertisers who were wooing me during those important years when I was 25-34 and didn’t have two nickels to rub together. Hope their advertising investments paid off and they’re still in business. The good news for all of these advertisers who will no longer want my business is that they won’t waste any of their marketing dollars on me. You see, in just 120 days I will achieve the trifecta of advertiser no-no’s: 55+, African American, and often listen to “controversial” talk show programming!
Imagine that, the one year when I anticipate the highest earning potential of my life, and the only companies who want my business sell V***gra, death insurance, and “Active Adult” home communities. Of course, I won’t be able to furnish the house because the furniture companies stopped advertising to me after I was 49.
Alas… the good news is that all of the discretionary income I anticipate amassing from advertisers who no longer want my business will be well-spent. You see, my son will be firmly entrenched in the 18 – 34 demographic for some time now. Lord knows he can’t afford any of the retailers who are fighting so desperately for his business. Relevancy once again! I hope they don’t realize some old black guy who listens to AM radio is funding his spending. They may not let him buy either!
(On a serious note: advertisers, please realize that age demographics don’t buy goods and services, people do. Find out who really does buy your products and learn how to speak to them. Consumer behavior usually crosses, age, racial, and political lines. )